Unusual Options Activity Thur 5/22/25

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity

• CRWV Weekly May23 110 calls are seeiing interst with the underlying stock up 5% (volume: 9.3K, open int: 4.1K, implied vol: ~143%, prev day implied vol: 121%). Aston Martin Aramco unveiled partnership with CoreWeave as Official AI Cloud Computing Partner. Stock was initiated with a Market Perform at Citizens JMP. Co is expected to report earnings mid-August.
• AI Weekly May23 24 calls (volume: 10.4K, open int: 21.6K, implied vol: ~80%, prev day implied vol: 68%). 10K traded in a single transaction. Co is confirmed to report earnings May 28 after the close.
• DECK Weekly May23 130 calls are seeing interest ahead of earnings tonight (volume: 4.8K, open int: 550, implied vol: ~72%, prev day implied vol: 62%).
• GAP Weekly May23 29 calls are seeiing interst with the underlying stock up 5% (volume: 15.8K, open int: 220, implied vol: ~66%, prev day implied vol: 62%). Co is confirmed to report earnings May 29 after the close.
  

Bearish Put Activity

• RUN Weekly May23 6 puts are seeing interest with the underlying stock down 40% (volume: 2.5K, open int: 380, implied vol: ~99%, prev day implied vol: 94%). Solar stocks are showing weakness following passage of the large reconciliation bill, which includes a phaseout of green energy tax credits beginning in 2028. Co is expected to report earnings late July.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.90, VIX: (20.32, -0.55, -2.6%).
June 20 is options expiration -- the last day to trade June equity options.

=== Gap (GAP) reported earnings on Thur 21 Nov 24 (a/h)

 

Gap beats by $0.14, reports revs in-line, comps +1%; guides FY25 revs above consensus 

• Reports Q3 (Oct) earnings of $0.72 per share, $0.14 better than the FactSet Consensus of $0.58; revenues rose 1.6% year/year to $3.83 bln vs the $3.81 bln FactSet Consensus.
  • TOTAL CONSOLIDATED COMPS: +1%
  • Same Store Comps by segment:
    • Old Navy flat: Sales of $2.2 billion were up 1% compared to last year. Comparable sales were flat. The brand's continued focus on operational rigor and brand reinvigoration drove solid performance in the quarter, despite lapping tougher compares and facing weather-related headwinds.
    • Gap +3%: Third quarter net sales of $899 million were up 1% compared to last year. Comparable sales were up 3% representing the fourth consecutive quarter of positive comparable sales at the brand. Gap's strong product and marketing execution have helped drive continued momentum and consistent results at the brand.
    • Banana Republic -1%: Third quarter net sales of $469 million were up 2% compared to last year. Comparable sales were down 1%. The brand saw strength in its men's business during the quarter and remains focused on fixing the fundamentals.
    • Athleta +5%: Third quarter net sales of $290 million were up 4% compared to last year. Comparable sales were up 5%. As expected, the brand returned to positive comparable sales in the quarter as its new product and marketing are resonating with customers.
• Co issues upside guidance for FY25, sees FY25 revs being up +1.5-2.0% vs prior guidance of "up slightly." We compute new guidance as $15.11-15.19 bln vs. $14.95 bln FactSet Consensus.
• Co raises FY24 gross margin guidance to +220 bps from +200 bps prior guidance.

Earnings this week : Nov 18 - 22, 24 (wk 47)

Monday (November 18)

• Morning: BRC TWST
• Afternoon: ACM BRBR SYM TCOM

Tuesday (November 19)

• Morning: AS ENR GDS J KC LOW MDT OCSL VIK VIPS VVV WMT WB
• Afternoon: AZEK DLB GBDC KEYS LZB POWL VREX ZTO

Wednesday (November 20)

• Morning: BERY DY GLBE NIO SR TGT TJX WSM WIX
• Afternoon: CPA JACK KLC  MMS NVDA PANW SNOW SQM

Thursday (November 21) 

• Morning: ATKR BIDU BJ DE BEKE SCVL VSTS WMG
• Afternoon: CPRT ESTC GAP INTU ROST UGI

Friday (November 22)

• Morning: BKE

==Gap (GPS) to change its ticker symbol to "GAP"

• Gap to change its ticker symbol to "GAP", effective August 22; will continue to trade on NYSE